E-commerce Bank: What It Is & Business Account Recommendations
In this article, we’ll explain what e-commerce banks are and provide tips for choosing a financial services provider to work with.
Read more
Invoice discounting enables you to take out a loan using unpaid invoices as collateral.
The loan amount typically ranges between 80% to 95% of the value of the invoices, which you will pay back (with interest) once you receive payment from your customers.
In this example, you will be given $10,000 x 80% = $8,000 of cash. After you have collected on the invoices, you will pay back $8,000 plus the agreed fee to the lender.
Grow your business with Choco Up
In this article, we’ll explain what e-commerce banks are and provide tips for choosing a financial services provider to work with.
Proactively securing funding is crucial to to avoid missed market opportunities. Learn how Choco Up's seed funding can help your business scale.